Everyone know what is an insurance. Insurance helps an individual to protect their income and provide them certainty when they need it the most. But many people avoid buying insurance or more precisely they just try to avoid insurance agent. At times, aggressiveness do kills, right ?
But let’s be realistic. Everyone needs insurance. We need insurance to protect us on medical. Medical costs increase by average 12% every year. Just come across a friend of mine who undergo a small operation on ‘appendix’ which already cost her around RM18,000. Although this amount seems small to some of us, but isn’t it better if this amount is coming out from someone else pocket other than yours ?
Insurance also a good financial tools to protect us from sudden income loss due to incapacitated or bad illness. Don’t you think is a relief knowing that when we unable to work, insurance payout will help us reduce some of our burden on living expenses.
Some sole breadwinner work day and night bring food on the table for his family. If one day he does not manage to continue provide food and shelter, his insurance payout able to help him do the job while reducing family immediate financial burden. Besides, we as parents sometimes fear that what if I pass on before my children finish their education ? Having the right insurance plan for your children to start their life with the right foundation is vital.
Apart from that, many articles did shows that EPF alone may not be enough for retirement and many would outlive their retirement money. Diversifying your retirement portfolio in on of the endowment plan is vital as it can provide you an assurance of money payout upon maturity when other investment vehicle fails to do so due to economy uncertainty.
As a summary, I urge you to look in depth on your financial plan to make sure you have all covered. Should you require further assistance, please feel free to contact us.
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